Abstract
Derivative projects should return a portion of the income to the community.
Rationale
By creating a free mint collection of wagdie derivatives we allow people to have a derivative version at an economical price, returning 40% of the earnings to the community treasury
Specifications
The derived collection is called WAGTY, it is a free mint with a 10% commission, all nft use the WAGDIE images modified with a glitch effect, the idea is βwhatβs after death? Only glitchβ
all the proceeds of this collection will be committed to WAGDIE, 40% for the treasury wallet and 60% to be able to buy other WAGDIEs
Steps to implement
complete the free mint of the collection, update the derivatives collection to a GLITCH 2.0 version, which will be animated and will have traits
Motivation
the success of being able to create a derivative collection with community support is fantastic, generating income will allow me to work more on creating a glitched animated version for each nft
Two comments;
(1)
Iβm a little confused how the preview and animation relate β are you thinking of launching the previews first then updating them as you have time/resources to make the animations?
(2)
Iβd be hesitant to fund this from the treasury at this point. I mostly agree with Merlin β entry price is near its lowest, and low relative to other collections. So a free mint isnβt compelling enough to me β Iβd want to see more evidence that this could increase demand for the original WAGDIE collection, rather than cannibalize it.
A few ideas for next steps:
(1) Maybe you could promote the concept on twitter and see how much engagement this gets relative to other derivative projects? If it gets more engagement than things like wagdie_3d, then it might be worth supporting.
(2) If the images are cheaper to make and the treasury funding is needed for the animations, maybe you could launch the images first and we could consider supporting the animation part if metrics from the image launch look promising.
Another thought on launch strategy⦠Instead of a free mint, maybe consider a first version where WAGDIE holders can claim this derivative of their WAGDIE NFT. This way if we see high engagement among the holders, then we can revisit plans/funding to scale this beyond WAGDIE holders.
I believe a derivative should bring value to the project and the brand. Examples of this would be compelling artwork, an extension of the storyline, or improvement to the overall user experience. In this case itβs simply the initial artwork with a visual flare and I would recommend against it.
